This article presents a systematic review of the theoretical and empirical literature on option grants and managerial risk taking. One of the objectives is the motivation of further research on the topic. Risk-averse managers hold less diversified portfolios and, thus, tend to take less risk...

Although some studies have analysed the effects of corporate governance practices on cash holdings, this study is the first, to the best of our knowledge, to analyse the effects of a non-mandatory premium listing that was designed to establish a higher standard of governance set by Brazilian...

We investigate whether ownership concentration influences bank profitability in a developing country context. We focus on bank ownership concentration measured as the amount of direct equity held by a majority shareholder categorised into: high ownership concentration, moderate ownership...

By means of a company merger formerly legally and economically independent companies are tied up to an economic entity. To order the financial state of affairs after the merger, the current shareholders must revalue their stake in the merged company. The interest is focused on the valuation of...

The subject of this paper is a modified net present value, and how it could be a useful tool for synergy valuation in the process of business combination. Every successful acquisition has to result in synergy in the post acquisition value. In the process of valuation each company has three...

This study investigates the effects of board characteristics on R&D investment by utilizing a data set of electronics firms listed on the Taiwan Stock Exchange Corporations. The empirical results indicate that R&D investment is negatively associated with board size and positively associated with...

The cycle of cash conversion relates to the time spread between the value of cash paid for purchases and the cash receipt from turnover. Using the State Bank of Pakistan data, this study introduces the direct and moderating role of the exchange rate, effective through the efficient execution of...

Den Klimaschutzzielen der Bundesregierung zufolge muss dieBraunkohleverstromung in Deutschland bereits deutlich vor demJahr 2030 kontinuierlich abnehmen. Simulationen zeigen, dass diebereits genehmigten Tagebaufelder in den ostdeutschen Revierenbei einer Einhaltung der Klimaschutzziele bis 2030...

Purpose-The existence of optimism as a personal psychological characteristic of managers is a necessity in contemporary economy and decision making, although the phenomenon of over-optimism may lead to unfavourable outcomes. The purpose of this study is to examine the optimism bias and its...